Executor Duties

An Executor has many duties and responsibilities

Providing various mandated court filings
Obtaining an Estate E.I.N. number
Preserving the Estate's assets
Satisfying the Estate's creditors
Notifying Beneficiaries and Heirs
Filing the Decedent's Final Income Tax Returns
Filing the Estate's Inheritance Tax and/or Estate Tax Returns
Filing the Estate's Fiduciary Income Tax Returns
Providing an accounting of all of the estate items
Distributing the assets to the beneficiaries (Will) or heirs (no Will)

Choose your Executor with extreme care

Be aware of your Executor's traits
Be aware of the Estate's Fiduciary Income Tax returns
Be aware of the Decedent's final Income Tax returns

As an Executor, please be aware that

You can be held personally liable for unpaid taxes
You should be careful of the advice you receive and what you hear
You should ensure that the Income Tax returns were filed in your Estate
With all of the recent talk of the Estate Tax, the Income Tax side is as vital

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